Zacks Investment Research upgraded shares of Ribbon Communications (NASDAQ:RBBN) from a hold rating to a buy rating in a report published on Tuesday morning. Zacks Investment Research currently has $5.75 price objective on the communications equipment provider’s stock.

According to Zacks, “Ribbon Communications Inc. develops communication software. It provides session border controllers, diameter signals, policy and routing servers, media and signaling gateways, cloud and mobility solutions. Ribbon Communications Inc., formerly known as Sonus Networks Inc., is headquartered in Westford, Massachusetts. “

Other analysts also recently issued reports about the stock. National Securities assumed coverage on shares of Ribbon Communications in a research report on Monday, October 22nd. They set a buy rating and a $8.50 price objective on the stock. BidaskClub downgraded shares of Ribbon Communications from a hold rating to a sell rating in a report on Tuesday, October 9th. Finally, ValuEngine upgraded shares of Ribbon Communications from a strong sell rating to a sell rating in a report on Friday, January 4th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $7.13.

Shares of Ribbon Communications stock traded up $0.02 on Tuesday, hitting $5.25. 4,761 shares of the company’s stock were exchanged, compared to its average volume of 254,402. The stock has a market capitalization of $565.62 million, a PE ratio of 75.14, a P/E/G ratio of 0.85 and a beta of 1.38. Ribbon Communications has a 1 year low of $4.62 and a 1 year high of $7.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.91 and a quick ratio of 0.83.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Tuesday, October 30th. The communications equipment provider reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.06. The firm had revenue of $152.46 million for the quarter, compared to the consensus estimate of $138.40 million. Ribbon Communications had a negative net margin of 16.28% and a positive return on equity of 6.72%. The company’s revenue was up 104.4% on a year-over-year basis. During the same period last year, the firm earned $0.14 EPS. As a group, research analysts anticipate that Ribbon Communications will post 0.44 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Ribbon Communications in the 3rd quarter valued at about $202,000. Ramsey Quantitative Systems boosted its position in Ribbon Communications by 397.2% in the 3rd quarter. Ramsey Quantitative Systems now owns 30,882 shares of the communications equipment provider’s stock valued at $211,000 after buying an additional 24,671 shares during the period. MetLife Investment Advisors LLC purchased a new stake in Ribbon Communications in the 3rd quarter valued at about $274,000. Rhumbline Advisers boosted its position in Ribbon Communications by 17.0% in the 2nd quarter. Rhumbline Advisers now owns 54,434 shares of the communications equipment provider’s stock valued at $388,000 after buying an additional 7,912 shares during the period. Finally, California Public Employees Retirement System boosted its position in Ribbon Communications by 11.0% in the 2nd quarter. California Public Employees Retirement System now owns 111,902 shares of the communications equipment provider’s stock valued at $797,000 after buying an additional 11,102 shares during the period. 79.43% of the stock is owned by hedge funds and other institutional investors.

About Ribbon Communications

Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.

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